Question

I already completed part 1 as pictured, I need help solving part 2. Part 2: (c) How many new homes were completed in the 12-month period through January 2011, and how did that compare to the number of new homes started in 2010? If necessary, round your answer to the nearest whole number. In the 12 month period through January 2011, there were 423,831 new homes completed, which was _________ fewer OR more than the number of new homes in 2010.

Answer 1

Answer:

• 423,831
• 104,840 fewer

Step-by-step explanation:

Given:

  281,000 homes sold through Jan 2011 was 66.3% of homes completed

  378,000 homes was a 28.5% decrease from starts in 2010

Find:

  (i) Homes completed in 12 months through Jan 2011

  (ii) Comparison to homes started in 2010

Solution:

(i) Using the given relation, we can find homes completed through Jan 2011.

  281,000 = 0.663×completed

  completed = 281,000/0.663 = 423,831

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(ii) Similarly, we can find the number of 2010 starts:

  starts(1 -28.5%) = 378,000

  starts = 378,000/0.715 = 528,671

The relation of completions in 2011 to starts in 2010 is ...

  423,831 -528,671 = -104,840

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Through Jan 2011, there were 423,831 homes completed, which was 104,840 fewer than the number of starts in 2010.

_____

Comment on your question

Your problem statement supplies the answer to the first question in 2(c). Part 1(b) tells you the relation between starts in 2011 and in 2010, so you can easily figure starts in 2010 from your answer to that question.